Chilean retailer Cencosud has reported on an improvement in net profit of 24.7 per cent for the second quarter of 2010, up to CLP79.4bn (US$145m), up from the CLP63.68bn (US$116.3m) recorded last year.

According to the group, profit was boosted by stronger year-on-year sales, which totalled CLP1.49tn (US$2.72bn) compared with the CLP1.31tn (US$2.39bn) recorded in the same period of 2009.

Meanwhile, the group is continuing to pursue its aggressive US$800m investment plan across the five South American nations in which it operates, Planet retail reported, as part of its 2010 growth strategy.

Cencosud currently operates Jumbo and Santa Isabel supermarket stores in its home market of Chile, and also has a presence in Argentina, Brazil, Colombia and Peru.

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